Contingency Planning for a Recession–or a Recovery
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Submitted by Businomics Blog
I spoke a couple of months ago about the economic contingency planning process. You can listen here.
Key steps:
- Evaluate your company’s own vulnerability to changes in the economy.
- Develop an early warning system specific to your business.
- Sketch out a contingency plan for economic changes.
- Manage the business to gain or preserve the flexibility to implement the plan.
